Shipsy signs MoU with Monsha’at and pledges investment of US$ 10mn

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Shipsy, a leading global SaaS-based logistics management platform provider, announced that it had signed a Memorandum of Understanding (MoU) with Monsha’at, the Small and Medium Enterprises General Authority of the Kingdom of Saudi Arabia, to support Saudi Vision 2030.

This development took place at the sideline of the recently concluded Beban 23 Forum, the Kingdom’s largest start-up, SME, and entrepreneurship conference.

The MoU highlighted that Shipsy would offer its technology at a significant concession for all customers channeled through Muntajat. The leading logistics SaaS provider also earmarked an investment worth US$ 10mn over 5 years in the region to drive technology innovation and research and development.

The Kingdom’s small and medium enterprises (SMEs) are most important in supporting the national economy. SMEs in KSA will increase exports, create new job opportunities for Saudi youth, diversify sources of income and expand the production base in line with the Saudi Vision 2030.

This MoU’s objective will be to develop and support SMEs and entrepreneurship under the laws and regulations in force in the Kingdom of Saudi Arabia and commensurate with the available resources, aiming to drive growth and economic diversification.

“Technologies like AI, automation, ML, IoT, Blockchain and data analytics will create numerous employment opportunities and unlock efficiencies that will help logistics stakeholders build sustainable, agile and cost-efficient logistics processes,” noted Soham Chokshi, CEO and Co-Founder, Shipsy.

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